Dubai homes sold for over US$10 mil hit all-time high in 2Q2025: Knight Frank
The units sold in 2Q2025 amounted to a complete sales value of US$ 2.6 billion. This is 37% higher than the US$ 1.9 billion recorded in the 1st quarter and stands for an all-time quarterly sales high, says Knight Frank. It is also a 63% spike compared to the same period last year.
Faisal Durrani, associate and head of research for Knight Frank MENA, notes a difference between the expanding necessity for Dubai homes and readily available source. In 2024, Dubai welcomed nearly 170,000 new homeowners last year, while total housing stock rose by just over 30,000 units.
While over 350,000 homes are targeted for completion in Dubai by the end of 2029, Durrani emphasize that today number of offered homes inside certain price brackets is tightening rapidly. As an example, homes in the US$ 10 million rate tier dropped by 39% last year, from 4,110 to 2,493 units. In the US$ 25 million bracket, the number of offered homes plunged 85% in 2024, from 583 to just 86 units.
The Dubai non commercial industry carried on to smash reports in 2Q2025: Research by Knight Frank presents that 143 Dubai homes marked up over US$ 10 million ($12.78 million) were sold past quarter, rising 52% y-o-y.
Of the 143 Dubai homes offered in 2Q2025, 22 brought prices going beyond US$ 25 million. Still, average transaction costs across the market remained relatively unmodified contrasted to the previous quarter, claims Knight Frank. The firm’s Prime Index for Dubai, that tracks real estate costs across 10 key luxury communities, balanced AED3,850 psf ($1,339 psf) in 2Q2025.
Most of the houses belonging to “unintended millionaires” are located in Dubai’s leading 10 deluxe places, like Palm Jumeirah, Downtown Dubai and Dubai Hills Estate. In particular, Palm Jumeirah saw the highest possible amount of over-US$10 million estate special offers in 2Q2025, with 28 this kind of deals carried out.
According to Knight Frank, the volume of Dubai house owners who have ended up being millionaires only due to their estate’s worth increasing because of price inflation has increased significantly. “The number of accidental millionaires in Dubai has actually increased by approximately 79.5% over the last 3 years,” keeps in mind Shehzad Jamal, partner for strategy and consultancy at Knight Frank MENA (Middle East and North Africa).
Across Dubai, Knight Frank discovered that several 110,000 estate homes were worth over US$ 1 million as at the beginning of 2Q2025. Collectively, the homes have an approximated value of US$ 271 billion. Of such, some 37,000 of the units were bought by their proprietors for lower than $1 million.
Knight Frank even highlights that amongst the US$ 10 million Dubai residences that offered last quarter, apartments outpaced villas for the very first time since 2Q2023, with 80 apartments sold, compared to 63 villas.
